Synthetic assets open up several options for investors as they are not limited to a specific location. If you’re excited about the concept, there is good news from X Carnival. Recently XCarnival announced it has secured a $ 2 million seed investment to reinvent synthetic assets in crypto.
This investment has been spearheaded by top crypto funds like Fundamental Labs, Zonff Partners, SNZ, EVG, NGC, etc. At the same time, institutions such as AU21, Incuba Alpha, DFG, WaterDrip, LD Capital, Gate, ChainCapital and Bitrise Capital were cited.
“We are very excited about the funding progress, which reflects the trust investors have in our project and our team,” said Leon Liu, founder of XCarnival, a crypto influencer, investor and one of the most influential community leaders in the Binance Smart Chain Chinese community.
As a next-generation synthetic asset platform, XCarnival is committed to building non-standard asset leasing, pawning, and lending businesses. At the same time, XCarnival offers several synthetic asset templates for users who want to quickly create financial products. The first version of XCarnival is based on the use of R&D on the Binance Smart Chainwhile it promotes R&D on ETH Layer 2 and Solana.
Why XCarinval Will Reinvent Synthetic Assets?
In essence, a synthetic asset is a tokenized derivative that mimics the value of another asset, with very little change in the characteristics of either asset. Recently, synthetic assets have grown in popularity as they help people who don’t want to hold an actual asset.
Synthetic assets symbolize the relationship with an underlying asset rather than using contracts to build the chain between assets. As a result, synthetic assets, by operating within the cryptosystem itself, can provide exposure to any asset in the world. People today prefer synthetic assets over all other assets for a variety of reasons.
With XCarnival you can overcome the barriers imposed by synthetic assets. Not only can you use them to add liquidity to the market, but XCarnival has also enabled synthetic asset solutions that lower the emission barrier for financial derivatives. What would otherwise have cost millions of dollars and months to develop and apply for distribution on Wall Street can now be easily produced and published by anyone in less than ten minutes and hundreds of dollars, all thanks to synthetic asset solutions from XCarnival.
This type of platform, which allows people to unleash their creativity, will greatly increase innovation and efficiency, and allow synthetic assets to become more mainstream. Youtube is a prominent earlier example of such a platform. When Youtube started it changed the whole concept of filmmaking and distribution as we all know. Not only did they cut the cost of filming and production from millions of dollars and months in Hollywood to minutes and next to nothing, but they also changed the cinematic landscape for the better. Youtube has also helped start a number of multi-billion dollar industrial giants like Tik Tok as short films and videos have become an integral part of people’s daily entertainment.
The Youtube of Finance is the breakthrough that XCarnival is looking to introduce, and synthetic assets are the way to get there.
Synthetic assets in decentralized financing
Synthetic assets play an important role, especially in the area of decentralized financing or DeFi. The use of synthetic USD is particularly popular. Today’s investors are more concerned with getting the best possible return on their wealth than anything else. Synthetic assets are here to save the day by enabling smoother, cheaper transactions in such a situation, rather than filling out tons of paperwork and bulky contracts that are required for normal assets.
With the growth in decentralized funding as well as this latest round of investments in XCarnival, the year ahead is full of opportunity and looks very promising. If you want to learn more about XCarnival and how it works with synthetic assets, check out these below:
Telegram Community: https://t.me/XCarnivalCommunity
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